Barbados dollar under considerable pressure as foreign reserves deplete – Moody’s

Moody’s stated that although it expects Barbados’ fiscal consolidation to accelerate over the next three quarters, “it will remain constrained by revenue under-performance, difficulty reining in transfers and subsidies and rising interest costs.

“Consequently, we are adjusting our 2014 budget deficit projection to 8.5 percent of GDP from 8.0 percent, about two percentage points above the government’s target, with risks firmly tilted to the downside.” -(CMC)

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